---
title: "Breakfast | This week's focus on the testimony of Federal Reserve Chairman Powell, NVIDIA may once again enter the handheld gaming console market."
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/109107989.md"
description: "NVIDIA may once again enter the handheld gaming console market: creating exclusive graphics IP, not ruling out cooperation with Intel. Taiwan Semiconductor plans to recruit 6,000 people in Taiwan. The housing market in Hong Kong is booming after the withdrawal of the spicy measures, with Secretary Chan Mo-po stating that a vacancy tax could be introduced but is currently not necessary. An investment consortium has raised the acquisition price of Macy's to $6.6 billion. Astrazeneca is investing $475 million to build a new small molecule innovative drug factory in China. The \"Two Sessions\" in China have begun."
datetime: "2024-03-04T00:01:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/109107989.md)
  - [en](https://longbridge.com/en/news/109107989.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/109107989.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/109107989.md) | [繁體中文](https://longbridge.com/zh-HK/news/109107989.md)


# Breakfast | This week's focus on the testimony of Federal Reserve Chairman Powell, NVIDIA may once again enter the handheld gaming console market.

Good morning! A great day starts with making money.

### Overnight Market Update

Last Friday, the three major U.S. stock indexes closed higher, with the Nasdaq and S&P 500 hitting record highs. AMD and NVIDIA both reached record closing highs, with NVIDIA's market value exceeding $2 trillion for the first time. For the week, the Dow fell by 0.11%, the S&P 500 rose by 0.95%, the Nasdaq rose by 1.74%, and the Hang Seng Index fell by 0.82%; the Hang Seng Tech Index rose by 2.6%.

This Wednesday, Federal Reserve Chairman Powell testified before the House Financial Services Committee, and on Thursday, he will deliver semi-annual monetary policy testimony before the Senate Banking Committee. This Friday, the U.S. will release the February non-farm payroll report. Daylight saving time begins in North America on Sunday.

Today, Gitlab will announce its performance. This week, CrowdStrike, JD.com, JD Logistics, Broadcom, Bilibili, ZTE, and Nio will also release their earnings reports.

### Blue Chips and Hot Stocks

NVIDIA CEO Huang Renxun: Artificial intelligence may pass human tests within 5 years.

**NVIDIA may re-enter the handheld gaming console market: creating exclusive graphics IP**

Sources from Moore’s Law Is Dead revealed that NVIDIA is developing its own PC gaming handheld console and considering expanding to launch graphics chips with exclusive IP. Current gaming consoles use AMD APUs, and Intel's competitor is expected to be released later in 2024. NVIDIA hopes to expand the chip's applicability and may even cooperate with Intel to produce a high-end gaming handheld console.

TSMC plans to recruit 6,000 people in Taiwan.

**AstraZeneca invests $475 million to build a new small molecule innovative drug factory in China**

AstraZeneca signed an agreement with the Wuxi High-tech Zone Management Committee for the Wuxi small molecule innovative drug new factory project. The new factory will be equipped with cutting-edge tablet continuous manufacturing process equipment and sustainable drug packaging production lines.

Alibaba Cloud will stop trademark agency services on March 29.

XPeng Motors: XPeng G6 all models are discounted by $2,000 for a limited time.

**Investment consortium raises Macy's acquisition price to $6.6 billion**

An investment consortium composed of Arkhouse Management and Brigade Capital Management has increased its acquisition offer for the U.S. retail giant Macy's by 14% to $24 per share, totaling approximately $6.6 billion. Previously, Macy's rejected the consortium's $5.8 billion acquisition offer.

### Macro Insights: A Glimpse of the World

Trump has won the Republican primaries in 6 states: Missouri, Michigan, South Carolina, Nevada, New Hampshire, and Iowa.

The U.S. will have a "Super Tuesday" in the upcoming election: about one-third of the U.S., including 16 states or territories, will hold primaries simultaneously.

The U.S. Congress will disclose details of government budget funds, aiming to maintain most government department spending until September 30.

U.S. SEC Commissioner: Regulatory agencies are considering an Ethereum spot ETF.

-   Media: Japanese government considers announcing the end of deflation
-   The "Two Sessions" of China have opened
-   The 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) started its second session on the afternoon of the 4th and will close on the morning of the 10th.
-   The heat of the Hong Kong property market soared during the first weekend after the comprehensive "cooling measures" were lifted: the number of appointments for property viewings reached an 11-month high, and inquiries from mainland clients doubled. The transaction volume of the top ten housing estates in Hong Kong tripled over the weekend.
-   Hong Kong Financial Secretary Paul Chan stated that the lifting of the cooling measures aims to prevent the excessive amplification of pessimistic sentiments and "doom-mongering" about the property market. If the property market becomes excessively heated, the government can adjust measures at any time. "If an extreme situation arises, the introduction of a vacancy tax could be considered, but there is currently no need for it."
-   Cui Dongshu, Secretary-General of the China Passenger Car Association: China accounted for 66% of the global market share of new energy vehicles in January.
-   Beijing: Actively promoting the construction of large industrial artificial intelligence models by universities, research institutes, and emerging R&D institutions.

### Related Stocks

- [Intel Corporation (INTC.US)](https://longbridge.com/en/quote/INTC.US.md)
- [Macy's, Inc. (M.US)](https://longbridge.com/en/quote/M.US.md)
- [AstraZeneca PLC (AZN.US)](https://longbridge.com/en/quote/AZN.US.md)
- [NVIDIA Corporation (NVDA.US)](https://longbridge.com/en/quote/NVDA.US.md)
- [AstraZeneca PLC (AZN.UK)](https://longbridge.com/en/quote/AZN.UK.md)

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